- Frontier Resources (FNT) identifies potential ‘Yangibana-style’ ironstone outcropping at the Gascoyne project in WA
- The company completed rock chip sampling and geological mapping across two tenements which make up the Gascoyne project
- Strategically, the project adjoins the world-class Yangibana deposit and is proximal to multiple high-grade rare earth element (REE) prospects
- Frontier says observing potential REE-bearing Yangibana ironstones is an exciting development and will be followed up with survey work to define drilling targets
- Company shares are up 8.7 per cent to trade at 2.5 cents
Frontier Resources (FNT) has completed a reconnaissance rock chip sampling program and geological mapping within the Gascoyne region of Western Australia.
The exploration work focused on two exploration licence applications, referred to as the Gascoyne Project, which is considered to be prospective for rare earth elements (REEs).
This area adjoins Hastings Technology Metals’ (HAS) world-class Yangibana deposit and is also near to Dreadnought Resources’ (DRE) recent discovery of multiple high-grade REE prospects at its Mangaroon project.
Positively, the ground exploration work observed potential ‘Yangibana-style’ ironstone outcropping.
Non-Executive Director Brian Thomas commented on the initial observations.
“The early visual identification of a potential Yangibana-style ironstone outcropping at the Gascoyne project is a very exciting development,” he said.
“We’re continuing our desktop review and compilation of historical data which are providing further encouragement that our tenure is prospective for the discovery of REE mineralisation, adjacent to the world class Yangibana mine.”
REE-bearing Yangibana ironstones in the region were first targeted in 1972 as base metal-bearing gossans however, the REE potential of the ironstones wasn’t assessed until the mid-1980s and remained underexplored until Hastings acquired the project in 2011.
The Gascoyne Project seeing limited exploration paired with the region’s prospectivity for REE’s, Frontier believes there’s an exciting opportunity for the discovery of economic REE mineralisation.
Frontier Resources will soon begin an airborne magnetic-radiometric survey consisting of 5189 line kilometres over the entire tenement area. The data gathered from this survey will help to define targets for follow-up drilling.
Company shares were up 8.7 per cent to trade at 2.5 cents at 12:22 pm AEDT.